Subsea fasteners are used for critical offshore drilling operations. The major challenge in subsea fastener is in terms of material selection, quality assurance/control, traceability and documentation for manufacture and delivery, to ensure adequate performance, integrity and avoidance of costly failures. Critical subsea fastener is pressure containing and primary load bearing forgings, but may affect functionality of valves, equipment, and instruments for safe, reliable, and cost-effective operations.

Planning to lay down strategy for the next few years? Our report can help shape your plan better 

New oilfield discoveries on offshore are expected to boost the demand for subsea fasteners. Rapid depletion of oil reserves is influencing the outlook of the global oil & gas industry. Efforts are being taken to explore new oilfield reserves, particularly in North Sea, South China Sea, Gulf of Mexico, and the Persian Gulf. This, in turn, is anticipated to offer substantial growth opportunities to the subsea fasteners market in the near future.

Is something restraining your company’s growth in the Subsea Fasteners Market ? Ask for the report brochure here

Increase in number of oil & gas companies have begun to realize the need for regular interventions in their growing portfolios of subsea wells. This is expected to drive the subsea fasteners market in the near future. However, volatility of crude oil prices can hinder the subsea fasteners market. Subsea fasteners affects the exploration and production oil companies and EPC or service provider companies.

The subsea fasteners market can be segmented based on type, application, and region. Based on type, the subsea fasteners market can be divided into all thread stud bolts, engineer stud bolts, double-ended stud bolts, waisted engineer stud bolts, socket caps crews, heavy hexagon bolts and setscrews (hex head capscrews), bi-hex bolts & screws (ferry heads or 12-point bolts), hook bolts, tee bolts, u-bolts, heavy hex nuts, and washers. Based on application, the subsea fasteners market can be divided into oil & gas, power generation, petrochemical, and others. The oil and gas segments accounted major share for subsea fasteners market.

Get Research Solutions on a Wide Range of Products and Industries that you plan on venturing into

Leave a Reply

Your email address will not be published. Required fields are marked *